Cornerstone Ventures, a SaaS-focused venture capital firm, has successfully exited Intelligence Node, a retail analytics and AI platform. The exit was finalized through a $100 million (Rs 849.5 crore) acquisition by global advertising giant Interpublic Group (IPG). This milestone marks a significant achievement for Cornerstone Ventures, as Intelligence Node’s acquisition by IPG reinforces the growing value of AI-driven retail analytics in the global market.
This exit represents the second successful divestment for Cornerstone Ventures Fund I. The first was the acquisition of Wigzo Technologies, a marketing automation startup, by logistics unicorn Shiprocket in 2021. With just two exits, Cornerstone Ventures has already returned around 20% of its corpus, signaling strong returns for its investors.
Abhishek Prasad, Managing Partner at Cornerstone Ventures, shared an optimistic outlook for the fund, stating, “We expect to return approximately 100% of the corpus over the next 18-24 months. Over the fund’s lifetime, we aim to deliver a 3.5-4X multiple.” The fund still has five years remaining and a pipeline of 19 portfolio companies gearing up for liquidity events.
Founded in 2012, Intelligence Node leverages artificial intelligence to provide businesses with innovative tools for optimizing digital shelf presence and pricing strategies. The platform’s solutions have positioned it as a key player in the retail analytics domain, making it an attractive acquisition for IPG as it enhances its digital capabilities.
Cornerstone Ventures has built an impressive portfolio of companies across the Service SaaS space, including ManageArtWorks, THB, EnParadigm, WatchYourHealth, and Credit Nirvana. The firm has also invested in SaaS-plus-marketplace models like Blubirch, Credilio, and Mystifly. With a clear focus on backing scalable and innovative businesses, the fund continues to establish itself as a leading player in the SaaS venture capital space.
The successful exit of Intelligence Node highlights the robust potential of SaaS startups and the strategic value they bring to global enterprises. For Cornerstone Ventures, it represents another step forward in delivering substantial returns to its investors.
